The IT collapse caused one of the biggest financial outages since the inception of internet banking and led to more than £33 million being paid out to customers as well as the departure of the High Street bank’s then chief executive Paul Pester, right.
It struck when the bank was trying to move customers to a new platform, which it failed to test properly according to a subsequent report. The botched migration followed a change of ownership — from Lloyds Banking Group to Sabadell, a Spanish group —and during the crisis, TSB turned down an offer of help from its former parent. Today, two City watchdogs fined TSB a total of £48.6 million for “operational risk management and governance failures”.
Denne historien er fra December 20, 2022-utgaven av Evening Standard.
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Denne historien er fra December 20, 2022-utgaven av Evening Standard.
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Only £65k a month to live like Boy George
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